Course glossary
During lectures you will learn new words. Using this link you are welcome to add them to our "course glossary", so that other students will be able to see them and learn. Let's make our own useful glossary and help each other to learn new words! By the way, there are already some worlds which should be familiar for you till the end of the course, try to cover them when you mill have free time.
Special | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL
B |
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BondA certificate of indebtedness from the issuer to the bond holder. | |
Budget deficitExists when government spending exceeds the revenue collected from taxes. | |
Budget surplusExists when government spending is less than revenue collected from taxes. | |
Business cycleThe periodic rise and fall (in four phases) of economic activity. | |
C |
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Capital accountThis account shows the flow of investment on real or financial assets between a nation and foreigners. | |
Closed economyA model that assumes there is no foreign sector (m and x). | |
Comparative advantageA producer has comparative advantage if he can produce a good at lower opportunity cost than all other producers. | |
Consumer price index (CPI).The price index that measures the average price level of the items in the base year market basket. This is the main measure of consumer inflation. | |
Consumption and savings schedulesTables that show the direct relationships between disposable income and consumption and saving. | |